Rupee declines, closes below 46

The rupee today declined steeply against the US currency and ended at 46.03/04 per dollar due to fresh dollar demand after a sharp rise in dollar against other world currencies.

The rupee today declined steeply against the US currency and ended at 46.03/04 per dollar due to fresh dollar demand after a sharp rise in dollar against other world currencies. In active trading at the interbank foreign exchange (forex) market here, the Indian unit resumed on a weak note at 45.9550/9650 per dollar and plunged further to end 46.0300/0400 a dollar.

On Monday, the rupee had strengthened following suspected dollar selling by the state-owned banks on behalf of RBI to check a sharp fall in Indian currency.

However, that effort was shortlived as the rupee once again fell sharply after the dollar strengthened against the euro and yen, dealers said. Rupee also ended weak against currencies like the British pound, euro and the Japanese yen.

Gold falls

Mumbai: Gold today crashed by Rs 205 per 10 gram on the bullion market here today and ended below the Rs 9,000 per ten gram level at Rs 8,835 for the first time in two months due to frantic selling by stockists after the metal ended below the $600 per dollar level in the global market.

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